Mar-3023 Study Guide - Midterm Guide: Boston Consulting Group, Cash Cow, Swot Analysis
Document Summary
The process of creating, promoting, distributing, and pricing goods, services, and ideas to facilitate satisfying exchanges. ***not a good definition in brady"s point of view. If you remember, people who put this as the answer on exam 1 got it wrong, but then received credit because so many people missed it. 4 p"s: product, price, place (distibution), promotion (tells consumers they need them) None of those things would happen without marketing. And nothing else would exist without marketing. o product development to satisfy unmet consumer needs. The first goal of marketing is to identify unmet consumer needs and then develop products that fill those needs. Henry ford saw a need, so he made the first car. So marketers identify unmet consumer needs and then develop products that fill those needs. Think about the iphone, kindle, and wii o vs. advertising and sales. Many people think this is what marketing is, but it"s not.
